If you’re looking for the cheapest or best way to send money to Philippines, understand that how much your transfer ends up costing depends on multiple factors. Besides, given the number of options from which you get to choose, there is no telling if a company that works well for someone will work equally well for you.
Transfer money to the Philippines
UKUSAAustralia / NZCanadaEuropeHong Kong
- User RatingTrustPilot or Feefo User Ratings
- Transfer Type
- Coupon
- Fee
- Speed
- Regular Payments
- Mobile App
- Min Transfer Amount
WorldFirst
- 9.2/10
- Online
PhoneOne off transfers Regular transfers Forward contracts Currency options - NO FEES
- NO FEES.
- 1 - 3 Days
- Their website is responsive so it auto-scales to your screen size.
- £1000 / $1000 / €1000 / AUD$2000
OFX (UK)
- 8.9/10
- Online
PhoneOne off transfers Regular transfers - NO FEES
- NO FEES
- 1 - 3 Days
- Their website is also responsive so it auto-scales to your screen size.
- £100
TorFX (UK / Europe)
- 9.5/10
- Online
PhoneOne off transfers Regular transfers Rate Watch Limit Orders Forward Contracts - NO FEES
- NO FEEThey charge no fees on 90% of transactions. If fees apply you are informed upfront.
- 1 - 3 Days
- £50 / €100£2000 and over for phone assistance.
£50 - £10,000 via the TorFX online.
Currencies Direct
- 9.1/10
- Online
PhoneOne off transfers Regular transfers Forward Contracts Limit orders Stop loss orders - NO FEES
Currencies Direct regularly offer great rewards for new clients.
Check back again soon for their latest offers… - NO FEEThey charge no fees on 90% of transactions. If fees apply you are informed upfront.
- 1 - 3 Days
- Their website is responsive so it auto-scales to your screen size.
- £1 / $1 / €1
CurrencyFair
- 9.2/10
- Online
Phone AssistanceOne off transfers Regular transfers - 5 Transfers Fee Free!
Your first Five Transfers Fee Free! Learn more - €3Euro Equivalent. Learn more
- 1 - 2 DaysPriority 1-Day transfers are available at extra cost
NEW Automatic QuickTrade feature could take as little as 1 hour! - Their website is also responsive so it auto-scales to your screen size.
- €8Euro Equivalent. Learn more
WorldRemit
- 9.4/10
- Online OnlyOne off transfers Phone assistance available
- First 3 Transfers Fee Free.
Your first overseas transfer Fee Free! Learn more - $3 - 4For example. Sending €10,000
from Australia would incur
€50 fee + 4-5% exchange
rate fee on top of market rates. - 1 - 3 Days
- Regular payments to PayPal registered merchants is possible.
Regular payments to family or friends PayPal accounts is not currently possible. - Their website is responsive so it auto-scales to your screen size.
- €/£/$1
- User RatingTrustPilot or Feefo User Ratings
- Transfer Type
- Coupon
- Fee
- Speed
- Regular Payments
- Mobile App
- Min Transfer Amount
TransferWise
- 9.3/10
- Online OnlyOne off transfers Regular transfers
- First £3,000 Fee Free!
First TransferWise transfer is free up to £3,000 or other currency equivalent. E.g. USD$4,500, AUD$6,000, €4,000. - ~0.5%Min and Max Fees apply.. Learn More
- 1 - 2 Days
- £1 / $1Min and Max Fees apply.. Learn More
FrontierPay
- 9.7/10
- Online
PhoneOne off transfers Regular transfers - NO FEESNo fees are charged on any transaction
- NO FEE
- 1 - 3 Days
- $1,000
FC Exchange
- 9.7/10
- Online
phoneOne off transfers Regular transfers Forward Contracts - £0 / £10No fee for transfers over £10,000!
- 1 - 3 Days
- Feel free to call and discuss your needs with their very helpful brokers.
- £1,000 - £3,000For regular transfers, the minumum transfer can be reduced to £1,000. Give FC Exchange a call to discuss your individual needs.
XE (Formerly HiFX)
- 9.1/10
- Online OnlyOne off transfers Phone assistance available
- XE.com transaction fees are contained within the exchange rate offered.
- 1 - 5 Days
- Regular payments to PayPal registered merchants is possible.
Regular payments to family or friends PayPal accounts is not currently possible. - Their website is responsive so it auto-scales to your screen size.
- €/£/$1
- User RatingTrustPilot or Feefo User Ratings
- Transfer Type
- Coupon
- Fee
- Speed
- Regular Payments
- Mobile App
- Min Transfer Amount
OFX (USA)
- 8.9/10
- Online
PhoneOne off transfers Regular transfers Buy Now Transfer Later Set Target Rate FX Options - NO FEES
- NO FEES
- 1 - 3 Days
- Their website is also responsive so it auto-scales to your screen size.
- USD$250
TransferWise
- 9.3/10
- Online OnlyOne off transfers Regular transfers
- First £3,000 Fee Free!
First TransferWise transfer is free up to £3,000 or other currency equivalent. E.g. USD$4,500, AUD$6,000, €4,000. - ~0.5%Min and Max Fees apply.. Learn More
- 1 - 2 Days
- £1 / $1Min and Max Fees apply.. Learn More
XE (Formerly HiFX)
- 9.3/10
- Online OnlyOne off transfers Phone assistance available
- XE.com transaction fees are contained within the exchange rate offered.
- 1 - 5 Days
- Regular payments to PayPal registered merchants is possible.
Regular payments to family or friends PayPal accounts is not currently possible. - Their website is responsive so it auto-scales to your screen size.
- €/£/$1
WorldRemit
- 9.2/10
- Online OnlyOne off transfers Phone assistance available
- First Transfer Fee Free.
Your first overseas transfer Fee Free! Learn more - $3 - 4For example. Sending €10,000
from Australia would incur
€50 fee + 4-5% exchange
rate fee on top of market rates. - 1 - 3 Days
- Regular payments to PayPal registered merchants is possible.
Regular payments to family or friends PayPal accounts is not currently possible. - Their website is responsive so it auto-scales to your screen size.
- €/£/$1
- User RatingTrustPilot or Feefo User Ratings
- Transfer Type
- Coupon
- Fee
- Speed
- Regular Payments
- Mobile App
- Min Transfer Amount
WorldFirst
- 9.2/10
- Online
PhoneOne off transfers Regular transfers Forward contracts Currency options - NO FEES
- NO FEES.
- 1 - 3 Days
- Their website is responsive so it auto-scales to your screen size.
- £1000 / $1000 / €1000 / AUD$2000
TorFX (Aus / NZ)
- 9.5/10
- Online
PhoneOne off transfers Regular transfers Rate Watch Limit Orders Forward Contracts - NO FEES
- NO FEEThey charge no fees on 90% of transactions. If fees apply you are informed upfront.
- 1 - 3 Days
- Their website is responsive so it auto-scales to your screen size.
- $100$2000 and over for phone assistance.
$50 - $10,000 via the TorFX online.
OFX (Aus / NZ)
- 9.2/10
- Online
PhoneOne off transfers Regular transfers - First 2 Transactions Free
- AUD$15
- 1 - 3 Days
- Their website is also responsive so it auto-scales to your screen size.
- AUD$250
CurrencyFair
- 9.2/10
- Online
Phone AssistanceOne off transfers Regular transfers - 5 Transfers Fee Free!
Your first Five Transfers Fee Free! Learn more - €3Euro Equivalent. Learn more
- 1 - 2 DaysPriority 1-Day transfers are available at extra cost
NEW Automatic QuickTrade feature could take as little as 1 hour! - Their website is also responsive so it auto-scales to your screen size.
- €8Euro Equivalent. Learn more
- User RatingTrustPilot or Feefo User Ratings
- Transfer Type
- Coupon
- Fee
- Speed
- Regular Payments
- Mobile App
- Min Transfer Amount
TransferWise
- 9.3/10
- Online OnlyOne off transfers Regular transfers
- First £3,000 Fee Free!
First TransferWise transfer is free up to £3,000 or other currency equivalent. E.g. USD$4,500, AUD$6,000, €4,000. - ~0.5%Min and Max Fees apply.. Learn More
- 1 - 2 Days
- £1 / $1Min and Max Fees apply.. Learn More
WorldRemit
- 9.4/10
- Online OnlyOne off transfers Phone assistance available
- First 3 Transfers Fee Free.
Your first overseas transfer Fee Free! Learn more - $3 - 4For example. Sending €10,000
from Australia would incur
€50 fee + 4-5% exchange
rate fee on top of market rates. - 1 - 3 Days
- Regular payments to PayPal registered merchants is possible.
Regular payments to family or friends PayPal accounts is not currently possible. - Their website is responsive so it auto-scales to your screen size.
- €/£/$1
XE (Formerly HiFX)
- 9.1/10
- Online OnlyOne off transfers Phone assistance available
- XE.com transaction fees are contained within the exchange rate offered.
- 1 - 5 Days
- Regular payments to PayPal registered merchants is possible.
Regular payments to family or friends PayPal accounts is not currently possible. - Their website is responsive so it auto-scales to your screen size.
- €/£/$1
- User RatingTrustPilot or Feefo User Ratings
- Transfer Type
- Coupon
- Fee
- Speed
- Regular Payments
- Mobile App
- Min Transfer Amount
WorldFirst
- 9.2/10
- Online
PhoneOne off transfers Regular transfers Forward contracts Currency options - NO FEES
- NO FEES.
- 1 - 3 Days
- Their website is responsive so it auto-scales to your screen size.
- £1000 / $1000 / €1000 / AUD$2000
OFX (Canada)
- 8.9/10
- Online
PhoneOne off transfers Regular transfers - First 2 Transactions Free
- CAD$15
- 1 - 3 Days
- Their website is also responsive so it auto-scales to your screen size.
- CAD$250
TransferWise
- 9.3/10
- Online OnlyOne off transfers Regular transfers
- First £3,000 Fee Free!
First TransferWise transfer is free up to £3,000 or other currency equivalent. E.g. USD$4,500, AUD$6,000, €4,000. - ~0.5%Min and Max Fees apply.. Learn More
- 1 - 2 Days
- £1 / $1Min and Max Fees apply.. Learn More
CurrencyFair
- 9.2/10
- Online
Phone AssistanceOne off transfers Regular transfers - 5 Transfers Fee Free!
Your first Five Transfers Fee Free! Learn more - €3Euro Equivalent. Learn more
- 1 - 2 DaysPriority 1-Day transfers are available at extra cost
NEW Automatic QuickTrade feature could take as little as 1 hour! - Their website is also responsive so it auto-scales to your screen size.
- €8Euro Equivalent. Learn more
- User RatingTrustPilot or Feefo User Ratings
- Transfer Type
- Coupon
- Fee
- Speed
- Regular Payments
- Mobile App
- Min Transfer Amount
WorldFirst
- 9.2/10
- Online
PhoneOne off transfers Regular transfers Forward contracts Currency options - NO FEES
- NO FEES.
- 1 - 3 Days
- Their website is responsive so it auto-scales to your screen size.
- £1000 / $1000 / €1000 / AUD$2000
Currencies Direct
- 9.1/10
- Online
PhoneOne off transfers Regular transfers Forward Contracts Limit orders Stop loss orders - NO FEES
Currencies Direct regularly offer great rewards for new clients.
Check back again soon for their latest offers… - NO FEEThey charge no fees on 90% of transactions. If fees apply you are informed upfront.
- 1 - 3 Days
- Their website is responsive so it auto-scales to your screen size.
- £1 / $1 / €1
TransferWise
- 9.3/10
- Online OnlyOne off transfers Regular transfers
- First £3,000 Fee Free!
First TransferWise transfer is free up to £3,000 or other currency equivalent. E.g. USD$4,500, AUD$6,000, €4,000. - ~0.5%Min and Max Fees apply.. Learn More
- 1 - 2 Days
- £1 / $1Min and Max Fees apply.. Learn More
CurrencyFair
- 9.2/10
- Online
Phone AssistanceOne off transfers Regular transfers - 5 Transfers Fee Free!
Your first Five Transfers Fee Free! Learn more - €3Euro Equivalent. Learn more
- 1 - 2 DaysPriority 1-Day transfers are available at extra cost
NEW Automatic QuickTrade feature could take as little as 1 hour! - Their website is also responsive so it auto-scales to your screen size.
- €8Euro Equivalent. Learn more
TorFX (UK / Europe)
- 9.5/10
- Online
PhoneOne off transfers Regular transfers Rate Watch Limit Orders Forward Contracts - NO FEES
- NO FEEThey charge no fees on 90% of transactions. If fees apply you are informed upfront.
- 1 - 3 Days
- £50 / €100£2000 and over for phone assistance.
£50 - £10,000 via the TorFX online.
OFX (UK)
- 8.9/10
- Online
PhoneOne off transfers Regular transfers - NO FEES
- NO FEES
- 1 - 3 Days
- Their website is also responsive so it auto-scales to your screen size.
- £100
- User RatingTrustPilot or Feefo User Ratings
- Transfer Type
- Coupon
- Fee
- Speed
- Regular Payments
- Mobile App
- Min Transfer Amount
FrontierPay
- 9.7/10
- Online
PhoneOne off transfers Regular transfers - NO FEESNo fees are charged on any transaction
- NO FEE
- 1 - 3 Days
- $1,000
FC Exchange
- 9.7/10
- Online
phoneOne off transfers Regular transfers Forward Contracts - £0 / £10No fee for transfers over £10,000!
- 1 - 3 Days
- Feel free to call and discuss your needs with their very helpful brokers.
- £1,000 - £3,000For regular transfers, the minumum transfer can be reduced to £1,000. Give FC Exchange a call to discuss your individual needs.
XE (Formerly HiFX)
- 9.1/10
- Online OnlyOne off transfers Phone assistance available
- XE.com transaction fees are contained within the exchange rate offered.
- 1 - 5 Days
- Regular payments to PayPal registered merchants is possible.
Regular payments to family or friends PayPal accounts is not currently possible. - Their website is responsive so it auto-scales to your screen size.
- €/£/$1
WorldRemit
- 9.4/10
- Online OnlyOne off transfers Phone assistance available
- First 3 Transfers Fee Free.
Your first overseas transfer Fee Free! Learn more - $3 - 4For example. Sending €10,000
from Australia would incur
€50 fee + 4-5% exchange
rate fee on top of market rates. - 1 - 3 Days
- Regular payments to PayPal registered merchants is possible.
Regular payments to family or friends PayPal accounts is not currently possible. - Their website is responsive so it auto-scales to your screen size.
- €/£/$1
- User RatingTrustPilot or Feefo User Ratings
- Transfer Type
- Coupon
- Fee
- Speed
- Regular Payments
- Mobile App
- Min Transfer Amount
WorldFirst
- 9.2/10
- Online
PhoneOne off transfers Regular transfers Forward contracts Currency options - NO FEES
- NO FEES.
- 1 - 3 Days
- Their website is responsive so it auto-scales to your screen size.
- £1000 / $1000 / €1000 / AUD$2000
OFX
- 9.2/10
- Online
PhoneOne off transfers Regular transfers - First 2 Transactions Free
- AUD$15
- 1 - 3 Days
- Their website is also responsive so it auto-scales to your screen size.
- AUD$250
TransferWise
- 9.3/10
- Online OnlyOne off transfers Regular transfers
- First £3,000 Fee Free!
First TransferWise transfer is free up to £3,000 or other currency equivalent. E.g. USD$4,500, AUD$6,000, €4,000. - ~0.5%Min and Max Fees apply.. Learn More
- 1 - 2 Days
- £1 / $1Min and Max Fees apply.. Learn More
CurrencyFair
- 9.2/10
- Online
Phone AssistanceOne off transfers Regular transfers - 5 Transfers Fee Free!
Your first Five Transfers Fee Free! Learn more - €3Euro Equivalent. Learn more
- 1 - 2 DaysPriority 1-Day transfers are available at extra cost
NEW Automatic QuickTrade feature could take as little as 1 hour! - Their website is also responsive so it auto-scales to your screen size.
- €8Euro Equivalent. Learn more
This guide about sending money to the Philippines is divided into different sections:
Currency Corridors & Swift Codes
Currency Symbol and Swift Codes
Philippine peso (PHP) is the country’s official currency, and it is denoted by the ₱ sign. The term piso has been in use since 2017, when the country adopted the Filipino language for its banknotes and coins. One piso is made of 100 sentimo or centavo.
If you wish to send money to Philippines through a bank to bank transfer, you will need to provide a Bank Routing Symbol Transit Number (BRSTN), a term commonly used in the country to refer to a Bank Identifier Code (BIC). Here are the BRSTNs of popular banks in the Philippines.
| Bank | BRSTN |
|---|---|
| Allied Banking Corporation | 10320013 |
| Bank of America, N.A. | 10120019 |
| Bank of China | 11140014 |
| Citibank, N.A. | 10070017 |
| Deutsche Bank | 10650013 |
| The Standard Chartered Bank | 10050011 |
Popular Currency Corridors
In 2015, close to $28,500,000,000 was transferred to the Philippines from other countries, and around $525,000,000 made its way out. The table below gives you some indication about the more popular currency routes.
Incoming
| Country | Currency Pair | Amount |
|---|---|---|
| The U.S. | USD-PHP | $9,679,000,000 |
| United Arab Emirates | AED-PHP | $3,505,000,000 |
| Saudi Arabia | SAR-PHP | $3,214,000,000 |
| Canada | CAD-PHP | $2,075,000,000 |
| Malaysia | MYR-PHP | $1,671,000,000 |
Outgoing
| Country | Currency Pair | Amount |
|---|---|---|
| China | PHP-CNY | $201,000,000 |
| The U.S. | PHP-USD | $80,000,000 |
| Japan | PHP-JPY | $60,000,000 |
| India | PHP-INR | $38,000,000 |
| Australia | PHP-AUD | $19,000,000 |
| South Korea | PHP-KRW | $17,000,000 |
How Do I Compare Companies When Sending Money to the Philippines?
In arriving at the best way to send money to the Philippines, different aspects require your attention.
- Cost. How much you end up paying when sending money to Philippines depends on the exchange rate you get and the fee you need to pay. An easy way to determine the most cost-effective alternative is to compare how much money the recipient stands to receive. However, the cheapest way to send money to Philippines might not be the best for you.
- Turnaround time. If you plan to send money to a bank account in the Philippines, you may be looking at a processing time of two to seven business days, depending on the service provider you choose. If you’re in a hurry to remit money to Philippines, consider sending it through a company that operates cash pickup centers or provides home delivery of cash.
- Payment methods. How do you want to pay for your transfer? Just about every company lets you pay through bank account transfers. Some let you pay using debit cards and you can also find ones that accept credit card payments.
- Customer service. Customer service levels may vary depending on the company you select. In addition, not all provide 24/7 support via phone, email, and chat.
How to Send Money to the Philippines?
For those wanting to know how to send money to the Philippines from the U.S or the UK or anywhere else, there are three basic options from which to choose.
- Online. Most banks let you send money to the Philippines using their online systems as do specialist money transfer companies. Most people prefer the latter because of cost-effectiveness and speed.
- Over the phone. You can find money transfer companies that let you send money over the phone.
In-person. To send money in person, you may contact your local bank or get in touch with a money transfer company that has a physical location near your home or office.
Case Study
Jerome came to the U.S. as a student and at the end of his course he managed to stay back because he found a suitable job. Once he started working, he wanted to send money back home, to his parents who live in Davao.
He made a couple of transfers using his bank before a friend suggested that he use a specialist money transfer company instead. He ran a comparison before his next transfer and this is what he found.
| Bank | Money Transfer Service | |
|---|---|---|
| Exchange rate | $1=P49.04 | $1=P54.00 |
| Transfer fee | $4.99 | $0 |
| Amount received for $1,000 | P48,795.29 | P54,000.00 |
| Transfer time | 3 to 5 days | 3 days |
| Transfer options | Bank account | Bank account |
| Difference of | P5,204.71 |
Jerome hoped to continue sending $1,000 each month, and by selecting the money transfer company over his bank, his parents would end up getting around ₱5,000 more every time.
Cash Pickup Locations in the Philippines
You get different companies to choose from if you plan to send money to a physical location in the Philippines. Some of your options include Ria, Western Union, and MoneyGram. Listed below are some locations you may find useful.
| Ria in the Philippines | |
|---|---|
| Manila AUB - New Divisoria Mall 3rd Floor, Stall Unit #3N-25-31 Binondo, Manila, NCR | Banco de Oro 12 ADB Avenue Ortigas Center Manila, NCR |
| Davao AUB - Davao Damosa Doors 1 and 2, Angliongto Building Angliongto Road Davao, DAO | Tandag-Luis Perez Lomondao, Beside Next Lion Gas Station or Crossing Arakan, Marilog Davao, DAV |
| Western Union in the Philippines | |
|---|---|
| Manila LBC Express Inc. Espana G Tolentino Espana Blvd Annex G 6 Gf Dona Amparo Building Manila, Metro Manila | LBC Express Inc. KP Tower C M Recto Ave Cor Juan Luna St Stall B 03, KP Tower Commercial Building Manila, Metro Manila |
| Davao Petnet Door 219, Fernandez Hermanos Building Corner San Pedro and Pelayo Street Davao, Davao Del Sur | LBC Express Inc National Highway NCCC Calinan District Davao, Davao Del Sur |
Safety Tips for Picking up Cash in the Philippines
Governments of the U.S. and the UK warn their citizens against incidents of robbery and street crime in the Philippines. If you need to collect money from a cash pickup location, taking someone along might be a good idea. Try to visit the location during the day.
If you need to take a taxi use a hotel transfer service or hire one through a reputable company. Instances of taxi drivers and their accomplices robbing passengers are not uncommon. Be extra careful when you use public transport because armed hold-ups may take place on buses and ‘jeepneys.’ There is also a prevalence of violent crime, including the use of guns.
What Information Do I Need to Send Money to the Philippines?
The transfer method you choose has a bearing on the information you need to provide.
- Cash pickup. You need to provide the recipient’s complete name and address. To collect the money, the recipient will need to provide a reference number along with a valid form of photo ID.
- Bank account. You will need to provide the recipient’s name, bank account number, bank’s name, and bank’s BRSTN.
Regulations When Transferring Money To and From the Philippines
You may not bring in or take out more than ₱50,000 or its equivalent in another currency from the Philippines without prior consent from the Bangko Sentral ng Pilipinas (BSP).
The BSP permits residents and non-residents to buy foreign currency from:
- Authorized agent banks (AABs)
- Banks’ subsidiary/affiliate foreign exchange corporations (AAB-forex corps)
- Non-banking foreign exchange dealers (FXDs)
- Money changers (MCs)
Pros and Cons of Relocating to the Philippines
If you plan to move to the Philippines, understand that the shift will come with its share of pros and cons.
Pros
- Hospitable people
- Typically good weather
- Low cost of living
- Labor costs are low
Cons
- Foreigners may be subject to stares
- Subject to extreme weather conditions at times
- High levels of poverty and corruption
Next Steps
Irrespective of whether you want to send money to a cash pickup location or a bank account, know that you have multiple options to choose from, so take time to compare them well. Keep all the required information close at hand so you may benefit by the best exchange rate on offer.
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